Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The S&P Corelogic Case-Shiller home price index for January will be released at 9:00 a.m. ET. The Conference Board’s Consumer Confidence Index and the Richmond Fed Manufacturing Index will be released at 10:00 a.m. ET. Atlanta Federal Reserve Bank President Raphael Bostic is set to speak in Atlanta, Georgia at 11:00 a.m. ET.

Futures for the Dow Jones Industrial Average rose 113 points to 24,304.00, while the Standard & Poor’s 500 index futures gained 14.25 points to 2,673.75. Futures for the Nasdaq 100 index surged 56 points to 6,831.00.

Oil prices traded higher as Brent crude futures rose 0.40 percent to trade at $70.40 per barrel, while US WTI crude futures rose 0.37 percent to trade at $65.79 a barrel.

 

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1.11 percent, STOXX Europe 600 Index climbing 1.40 percent and German DAX 30 index gaining 0.88 percent. The UK’s FTSE index was trading higher by 0.10 percent, while French CAC 40 Index rose 0.65 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 0.15 percent, Hong Kong’s Hang Seng Index climbed 0.79 percent, China’s Shanghai Composite Index slipped 0.01 percent and India’s BSE Sensex rose 0.33 percent.

Broker Recommendation

Analysts at JP Morgan downgraded Canadian Solar Inc. CSIQ from Neutral to Underweight.

Canadian Solar shares rose 2.52 percent to close at $17.51 on Monday.

Breaking news

  • McCormick & Company, IncorporatedMKC reported stronger-than-expected earnings for its first quarter and raised its FY18 earnings guidance.
  • Fennec Pharmaceuticals Inc.FENC disclosed that it has received Breakthrough Therapy designation by the FDA for PEDMARK.
  • Red Hat IncRHT reported better-than-expected results for its fourth quarter. The company also issued strong first-quarter and fiscal 2019 earnings and sales guidance.
  • Overstock.com IncOSTK announced a proposed 4-million-share common stock offering.